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Analysis: regtech in the US – the state we are in

Too much debt

Subas Roy, chairman of the newly launched International Regtech Association (IRTA), provides an insight into the state of regtech in the US and further opportunities.

US Faster Payments Task Force sets ambitious goal for 2020

US

The Federal Reserve’s Faster Payments Task Force isn’t kidding when it says it wants every US consumer and business to be able to accept faster payments by 2020.

LendKey raises $13m in equity and debt financing

LendKey

Lending-as-a-Service (LaaS) specialist LendKey raised $13 million in Series C funding this week, reports Finovate (Banking Technology’s sister company). The round consisted of both equity and debt financing ($8 million of the former, $5 million of the latter) and was led by Maine-based North Atlantic Capital. Also participating in the investment were existing investors DFJ, Gotham […]

Two-day in-person seminar: Complete 1099, TIN Matching, B-Notice, FATCA and Nonresident Alien 1042-S Compliance Update

Too much debt

The average cost of a Notice of Proposed Penalty is estimated at $150,000 including the penalty itself and the added costs for consultants, personnel, remediation of legacy records, etc. Compliance is far less expensive than the alternative.

Meta taps Melissa for KYC and AML initiatives

Melissa Global Intelligence

Melissa Global Intelligence, a provider of global contact data quality and identity-verification solutions, announced that its technology is fueling know your customer (KYC) and anti-money laundering (AML) initiatives for Meta Payment Systems, one of the largest prepaid card issuers in the US. Banking Technology‘s sister publication Paybefore reports that Meta relies on Melissa to provide […]

Flybits raises $6.5m to help banks put data to work

Flybits 1

Consumer data contextualisation company Flybits pulled in $6.5 million this week, bringing the Toronto-based firm’s total funds to $14 million, reports Finovate (Banking Technology’s sister company). The Series B funding was led by Information Venture Partners. New investor Portag3 Ventures LP also participated along with existing investors Robert Bosch Venture and Trellis Capital. As a part […]

Urban FT buys iParse to speed up mobile app onboarding for FIs

urban FT

Mobile banking technology provider Urban FT has completed its acquisition of US software firm iParse, which, CEO Richard Steggall tells Banking Technology‘s sister publication Paybefore, will help the company provide a “mobile plug-in” for financial institutions. Steggall says the quicker, cheaper option compared with core processing integration will open up feature-rich mobile banking apps to […]

BNP Paribas fined $246m for FX misdemeanours

BNP Paribas

BNP Paribas has been hit with a $246 million fine by the US Federal Reserve System relating to past misconduct in its foreign exchange (FX) business. The Paris-based bank says it will pay the fine and has settled Federal Reserve allegations that it failed to keep its FX traders from using electronic chatrooms to manipulate […]

PayPal teams with Samsung Pay

PayPal

The partnerships keep coming for PayPal. Following recent news that the company is partnering with Apple for payments on iTunes and in the App Store, among other places, the company is now expanding its partnership with Samsung to enable PayPal as a payment method in any channel Samsung Pay is accepted, according to the PayPal blog. Banking […]

Zions Bancorporation goes live on TCS Bancs core system

Zions Bancorporation

Utah-based Zions Bancorporation has gone live on TCS Financial Solutions’ Bancs core system with the transition of its consumer lending business over to the platform. The core transformation program, titled “FutureCore”, is divided into phases and consumer lending for the seven affiliate banks is the first phase to go live, with other phases to follow. […]

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